curry blog.

FHA LOAN LIMITS REINSTATED

Congress recently approved restoring FHA’s previous loan limits through 2013 at 125% of local area median home prices up to a maximum of $729,750 in the highest-cost markets. Those limits previously expired September 30. Continue reading FHA LOAN LIMITS REINSTATED…

Grandma Would Be Proud

According to the NAR Housing Affordability Index, housing is at its most affordable in a generation. More specifically, the index shows there hasn’t been a better home buying opportunity in 40 years. Continue reading Grandma Would Be Proud…

It’s Tax Season: Don’t Forget Your Residential Energy Tax Credits

For several years now, the government has been offering tax credits as a way to encourage home owners to become more energy efficient.   Consumers who purchased and installed specific products such as energy-efficient appliances, windows, doors, roofs, insulation and heating/cooling equipment, during 2010, may be eligible to receive a tax credit for 30% of the cost, up to $1,500.  The improvements must meet the energy-efficient standards set by the IRS, and the home which received the upgrades must be an existing primary residence.   It is always best to consult with a tax advisor to ensure you receive the full credit to which you are entitled.  If you prepare your own tax return, make sure you complete Form 5695 properly.  See EnergyStar.gov for a complete summary of energy efficiency tax credits available.  You can also find information through the Department of Energy.   

Since purchasing and installing your energy-saving products, you’re being back with lower energy bills.  By taking advantage of the Residential Energy Tax Credit, Uncle Sam will pay you back some too.

HOUSING MARKET UPDATE

This blog entry is to answer what has become a popular question directed to the real estate agents here at Curry Real Estate:  “How’s the real estate market doing?”

Home sales reached a peak back in 2007, and shortly thereafter, started its downward spiral nationwide.  Here in the Heart of Georgia, the housing market hasn’t suffered to the extent larger cities have but, it has been in a decline; there’s no denying it.   We’re fast approaching the end of 2010, and home sales this year have been intermittent, and that’s okay.  Recovery will not be overnight.    National Association of REALTORS® chief economist, Lawrence Yum, recently stated “A housing recovery is taking place but will be choppy at times…”  He went on to say, “the overall direction should be a gradual rising trend in home sales.”    

The decline in the housing market won’t last forever.  Recent national press reports are letting people know that it’s a great time to buy a home because of the strong buyers’ market especially for families ready to settle down.  The savings today’s buyers are receiving are not a one-time benefit.  Fixed rate mortgages are staying around 4% for 30 year conventional.  Buyers with super-low fixed rate mortgages like this will save money every year they are living in their home.   Buying a home during this time will  be a tremendous investment and can help build wealth over the long-term.   Knight Kiplinger, Economic Journalist, stated in a recent column, “With your expectations duly tempered…go ahead and buy.  In a few years, you just might be pleasantly surprised.”   We could not have said it any better.

For more information or to see available houses for sale, please call one of our REALTORS®, at 478-272-2335, or visit CurryRealEstate.com.

THINGS HAPPEN! ARE YOU COVERED?

The single best way to protect your investment in your home is by owning a homeowner’s insurance (HOI) policy.  Let’s take a look at the 4 main categories of coverage that normally appear in a HOI policy.

Dwelling.  The most effective type of coverage for the home in which you reside is replacement cost coverage.  Payment based on the replacement cost is usually the most favorable figure from your point of view because it compensates you for the actual cost of replacing property. The key to determining how much dwelling coverage you need isn’t the value of your home but rather the money you’d have to pay to rebuild it. 

Other Structures.   Examples of other structures covered by HOI would be a detached garage, workshop, storage building, barn, etc.   Your policy covers all of the other structures that might be located on your property besides the home itself.  The same coverage rules apply here as the dwelling insurance – the total amount of coverage should be high enough to rebuild the entire structure if completely lost. 

Contents.  In the case of the contents, an inventory of items room by room is important to have with information such as the date purchased, serial number, the original cost of each item and a brief description. Video tape or still photos is very helpful along with the inventory. These items should be stored in a safe place such as a safety deposit box in a bank and not in the home.  Limitations are normally set for high-cost items such as jewelry, fine art, furs, electronics, collectibles, oriental rugs and antiques. If a thief comes in and steals a two-carat engagement ring, it may not be covered well enough without a personal property rider to cover specific, costly items.

Liability.   As a homeowner, you automatically assume some responsibility for what happens in and around your home.  Homeowner’s liability insurance provides for protection in the event someone gets hurt or property is damaged.  In case of either event, or a combination of the two, you are at risk of severe financial loss as a result of being found liable. In addition to covering medical expenses or cost of repairs, the liability part of your HOI usually pays for court costs should a lawsuit arise.  Don’t skimp on your liability limits!

It’s a good idea to read your policy and become familiar with what is covered and is not covered.  You may be pleasantly surprised to find that a policy covers you for more things than you originally thought.

If you have a question about your homeowner’s policy or would like a free quote, call Lee Newsome, Personal Lines Agent, at Curry Insurance Agency– 478-272-2335 or toll-free 800-596-5664.

It’s Possum Hollow Time!

This year marks the 35th anniversary of the Possum Hollow Arts and Crafts Festival to be held September 24 & 25. The festival, located in Laurens County along Highway 257 just outside of Dexter, Georgia, remains a popular event which had around 15,000 visitors last year and 300 exhibits. This year’s theme is “Something 2010”, and Festival Chairman, Cecil Passmore, Jr., expects even more people this year.

In keeping with tradition, the festival will kick off Friday night at 6:00 with a country music show lasting until midnight. The festivities will start at 10:00 Saturday morning and will end at 8:30 that evening. Its website identifies 275 booths to be set up under the tall pines, and there will also be antique cars, train and pony rides for the kids, plenty of food, and gospel and country music performances throughout the day. So make your plans to come out and enjoy what Possum Hollow has to offer. Admission is only $5.00 per person and there’s no charge for children under six. Visit PossumHollowFair.com for schedule of events and to view photos from past festivals.

Internet is #1 Source for Homebuyers

According to the National Association of REALTORS®, close to 90% of prospective homebuyers begin searching for a new home using the Internet.  To meet that demand, Curry Residential Real Estate has created a website with all of the information buyers need to begin the process of finding their dream home.  Hundreds of detailed listings and virtual tours, thousands of photos and easy-to-use tools such as mortgage calculators and interactive maps are all just a click away; and homebuyers have access to the most professional Realtors® in the business.  

Visit CurryResidential.com and sign up for our Auto Home Finder search service.  It’s quick, easy and free!  Let us know what you’re looking for in a new home, and we’ll send you regular emails of home listings that meet your specific needs.  Or contact one of our Realtors®.  Whether you’re buying your first home, up-sizing or down-sizing, the professional Curry Realtors® will help you find the home that will match your lifestyle and personality.

Curry Companies Launches New Website!

Curry Companies of Dublin, Georgia announces the launch of its new user-friendly, information-packed website.

“We’re very proud of our new website and how it presents each of the Curry Companies in an easy to use format.”
Louie Curry, Jr. President.

Whether you’re looking for residential, commercial or rental property, the new Curry Companies website is crafted to provide access to the most comprehensive, easy to navigate Real Estate search tools available.  Hundreds of listings and virtual tours, thousands of photos and easy-to-use tools such as mortgage calculators and interactive maps are a click away.  The site also allows viewers to access the Curry Insurance and Premier Construction websites.

Curry Companies is comprised of 5 core businesses: Curry Residential, Curry Commercial, Curry Rentals, Curry Insurance and Premier Construction Associates.   For information about each of the Curry Companies, visit the NEW www.CurryCompanies.com

Stay informed and up to date with area information and real estate tips by subscribing to the Curry Blog.  You can also become a Facebook Fan and a Twitter Follower – all from the new website.

If you are selling property, the Curry team has created a results-driven internet and print marketing system that guarantees your property will be seen through the traditional real estate advertising clutter.  Give your property the exposure it needs to get on and off the market quickly by listing with Curry Residential or Curry Commercial’s professional services.  Visit www.CurryCompanies.com for more information.

TO BUY or NOT TO BUY: That Is The Question

No one can deny the housing market, nation-wide, has been in a slump the past several months and recovery has been slow to take place.  However, what has taken place has created a Buyers’ Market – an ideal time to buy.

Most areas, including ours, have an abundance of available houses for sale.  According to the National Association of REALTORS, available homes are at a 15-year high. When housing inventory is high, it puts sellers in a position that necessitates competitive pricing.

Not only is the supply of available houses high, mortgage interest rates have remained at record lows. (Check out FreddieMac for average mortgage rates.)

Buyers who are pre-approved have incredible negotiating power, and financing options are available for those with a steady income and good credit.

It’s a simple equation: Motivated Seller + Low Mortgage Rate + Qualified Buyer = A Happy Homeowner.

Whether you are listing a home or look to buy a home, we’d like to help.  Visit us at CurryCompanies.com for all of your Real Estate needs.

You’ve Sold Your Home. Now What?

Now that all the closing papers have been signed and the keys handed over to the new owners, there’re a few things to remember.    

File all paperwork related to your closing in a place that you can easily access later.  You will need documentation of expenses and proceeds when you file your taxes.  Hopefully, you’ve kept all receipts from home improvements.  The IRS allows you to add the cost of improvements to your home’s cost basis during the time you owned the home.  (Consult your accountant for more precise information.)  There could also be tax credits available for upgraded items. 

If you sell but don’t have plans to immediately buy a new home, put your cash into a safe place that will give you a reasonable rate of return.

When you’re ready to buy your next home, visit CurryCompanies.com for the best of listings in the Heart of Georgia.